In a major boost to state startup initiative, Odisha state government has been recognizing 20 startups every month, flying higher than the national average, said Additional Chief Secretary (ACS), Micro Small and Medium Enterprises LN Gupta. At present, these are providing employment to around 2,000 people, he further added. Around 30 startups in Odisha have been provided various benefits like monthly allowance, product development assistance, need-based assistance, reimbursement of expenses and one-time matching capital grant, he said.
The state has also approved three new nodal agencies, financial assistance for two new incubators and need-based assistance for two new ventures The state has also approved the proposal for providing financial assistance to Technology Business Incubator in NIIT, Rourkela and Technology Business Incubator in KIIT, Bhubaneswar. There are also plans to host ‘Make in Odisha'.
The Odisha government announced its startup policy in August 2016. The startup policy had aimed to set up 1,000 startups in the next five years for which the state’s MSMEs were to provide a Seed fund of $3.7 Mn (INR 25 Cr).’ conclave in November this year.